06 February 2009
Upward Revision of Stimulus Job Cost
I just heard Obama give a speech last night (perhaps a replay from the night before) in which he claimed his now about $900 billion "stimulus" bill would create or save 3 million jobs. This means the cost per job has gone up to $300,000 per job. I would bet that many private industry jobs will be lost because the income per job is falling $20,000 short or less from what the employer needs to realize in order to keep the job in existence. This means that taking money away from these employers to put into the stimulus package for others, may kill as many as $300,000/$20,000 jobs. This is 15 jobs lost in order for the government to save or create 1 job!
Incredibly disgusting! It does not get more idiocentric than this. Once again I am befuddled with respect to figuring out how much stupidity versus how much ruthless power mongering rules the minds of our Washington politicians.
Incredibly disgusting! It does not get more idiocentric than this. Once again I am befuddled with respect to figuring out how much stupidity versus how much ruthless power mongering rules the minds of our Washington politicians.
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